NSIA: Investment in Africa50 fund to expand our development impact

The Africa50 Infrastructure Acceleration Fund has received a significant boost as African and Global institutional investors have signed subscription agreements and letters of intent for the first close of the fund. The fund aims to catalyze further investment flows to spur critical infrastructure development across the continent. Aminu Umar-Sadiq, the CEO of the Nigeria Sovereign Investment Authority (NSIA), emphasized the importance of changing the perception around inherent risks associated with infrastructure investment in Africa. During a recent interview with CNBC Africa, Umar-Sadiq highlighted the critical role that infrastructure plays in driving economic growth and development on the continent. He emphasized that improving infrastructure not only enhances the quality of life for African citizens but also attracts foreign investment and creates opportunities for local businesses to thrive. Umar-Sadiq pointed out that one of the key barriers to increased investment in African infrastructure is the perception of risk. Many investors are wary of committing capital to projects in Africa due to concerns about political instability, regulatory challenges, and lack of transparency. However, he stressed that these risks can be mitigated through proper due diligence, risk management strategies, and partnerships with reputable local entities. The NSIA CEO also highlighted the importance of collaboration between governments, development finance institutions, and the private sector to address the infrastructure deficit in Africa. By working together and leveraging each other's strengths, stakeholders can overcome challenges and unlock opportunities for sustainable development. In conclusion, Umar-Sadiq expressed optimism about the future of infrastructure investment in Africa, citing the growing interest from institutional investors and the potential for transformative projects to drive economic progress on the continent.